• Title/Summary/Keyword: management innovative enterprises

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The Mediating Effect of Social Capital on the Relationship between Entrepreneurial Orientation and Startup Performance: The Cases from the Philippines (필리핀 스타트업의 기업가적 지향성과 기업성과에 관한 연구: 사회적 자본의 매개 효과)

  • Jung, Ji Hoon;Kim, Ki Seok;Cho, Dai Yon
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.15 no.6
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    • pp.81-94
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    • 2020
  • Based on innovative technologies and new start-up ideas, startups have been actively researched on the entrepreneurship needed to strengthen the organization's capabilities and generate results in the start-up process. This study studied the entrepreneurial orientation on the performance of startups in the Philippines and the financial and non-financial performance of enterprises. This study carried out not only the entrepreneurial orientation to the performance of Filipino startups but also the role of social capital as parameters in the performance of enterprises. The empirical research was completed for 93 Philippine startups and the suitability of the research model was evaluated with a PLS-based structural equation model. The results of the study first confirmed that the enterprise orientation of Philippine startups has a positive impact on both financial and non-financial performance of the enterprises. Second, the entrepreneurial orientation of Philippine startups has been shown to have a positive effect on both the structural, cognitive and relational dimensions of social capital. Third, it was found that the relevant dimensions of social capital mediated both the corporate orientation and the relationship between the financial and non-financial performance of the entity. Entrepreneurial orientation has been confirmed to be directly or indirectly affecting the performance of startups through social capital. These findings reaffirmed that entrepreneurial orientation is still a valid important factor in developing countries as well as in countries such as Korea and the United States. Based on this study, we have identified the need for research from a more integrated perspective, such as the concept of strategic orientation. Finally, practical implications were presented to reflect the findings analyzed.

A Study on Implementing BSC in the Public Enterprises : The Case of Korea Southern Power (공기업의 BSC 구축에 관한 연구: 한국남부발전(주) 사례를 중심으로)

  • Suh, Woo-Jong;Park, Jin-Bae;Hong, Jin-Won
    • Journal of Korea Society of Industrial Information Systems
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    • v.14 no.4
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    • pp.163-182
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    • 2009
  • The BSC(Balanced Scorecard), a strategic performance evaluation system, has drawn attention as an innovative tool for improving an organization's performance. Recently, the Korean government has recognized the advantages of the BSC and encouraged public enterprises to implement the BSC. However, it has been pointed out that many public enterprises have faced difficulties in constructing and operating the BSC due to lack of clear understanding, a complex environment of performance evaluation, and inherent features of organizational culture. Therefore, this study analyzed a project case of a public enterprise, Korea Southern Power (KSP), which has ever been assessed as an excellent organization in implementing BSC and managing performance. This paper provides procedures, activities, resources (manpower and time), and decision-making issues and criteria required for implementing BSC, along with real project outcomes of the company. Such project details are expected to be used as helpful guidelines for public or non-profit organizations's BSC implementation. Furthermore, the KSP's efforts to cope with its problems and implications derived from the efforts are also expected to help other organizations construct and operate the BSC effectively.

Implementation of Z-Factor Statistics for Performance Evaluation of Quality Innovation in the High Throughput Process (High Throughput 프로세스에서 품질혁신의 성능평가를 위한 Z-Factor의 적용방안)

  • Choi, Sung-Woon
    • Journal of the Korea Safety Management & Science
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    • v.15 no.1
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    • pp.293-301
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    • 2013
  • The purpose of this study is to introduce the limit of previously used six sigma quality process evaluation metrics, $Z_{st}$ and $P_{pk}$, and a solution to overcome this drawback by using a metric based on performance evaluation of Z-factor quality innovation. Case analysis on projects from national six sigma contest from 2011 to 2012 is performed and literature review on new drug development HTS (High Throughput Screening) is used to propose innovative performance evaluation metrics. This research shows that experimental study on six sigma evaluation metric, $Z_{st}$ and $P_{pk}$, have no significance difference between industrial type (Manufacturing, Semi-Public Institute, Public Institute) and CTQ type (Product Technology Type CTQ, Process Technology Type CTQ). Following discovery characterize this quality improvement as fixed target type project. As newly developed moving target type of quality innovation performance metric Z-Factor is used for evaluating experimental study, hypothetical analysis suggests that $Z_{st}$ and $P_{pk}$ share different relationship or even show reciprocal relationship. Constraints of the study are relatively small sample size of only 37 projects from past 2 years and conflict on having interview and communication with six sigma quality practitioner for qualitative experimental study. Both moving target type six sigma innovation project and fixed target type improvement project or quality circle enables efficient ways for a better understanding and quality practitioner use by applying quality innovation performance metric. Downside of fixed target type quality performance evaluation metric, $Z_{st}$ and $P_{pk}$, is presented through experimental study. In contrast, advantage of this study is that high throughput requiring product technology, process technology and quantum leap typed innovation effect is evaluated based on precision and accuracy and Z-Factor that enables relative comparison between enterprises is proposed and implemented.

A Study of Innovation and Internationalization Strategies by a Hidden Champion Firm in Korea: The Case of CAP Corporation

  • SAMSON, Kouame Kouakou;LEE, Youngwoo
    • Fourth Industrial Review
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    • v.1 no.1
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    • pp.1-10
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    • 2021
  • Purpose - This case study analyzes the internationalization strategy and innovation strategy as key factors contributing to the business success of CAP, a small and medium-sized manufacturing company in Korea producing auto parts such as wipers. This study describes the diversification strategies conducted by CAP Corporation and highlights the company's core competencies that have largely contributed to their global competitive success. Research design, data, and methodology - This paper provides in-depth case study on how CAP was able to grow into a hidden champion company, focusing on their strategies since its establishment. In particular, by analyzing the success factors centering on CAP's aggressive innovation strategy and internationalization strategy, it presents guidelines for small and medium-sized enterprises in Asian countries to become a Hidden Champion company. Result - CAP's product technology has successfully established innovative system on their product called 'vertebra spring' to distribute uniform pressure to the rubber to ensure performance as well as durability of their products. In order to continue benefiting from utilizing core competence and to continue pursuing technological advancement in the wiper industry, CAP has launched a wide range of products (flat blade, conventional blade, hybrid blade) applicable to 95% of the vehicle in the market. Conclusion - Taken together, CAP has many aspects of a hidden champion company by investing in R&D up to 8% of its annual sales to R&D investment even during the crises situation. This number is about 3.36 times higher than the average ratio of listed companies in Korea. Furthermore, the leadership of the management team as well as their vision toward the global market and strong commitment to innovation enabled CAP to become the world's fifth-largest wiper and Asia's No. 1 wiper manufacturer.

A Study on The Effect Quality Innovation of Convergence Management (융합경영이 품질혁신에 미치는 영향)

  • Choi, Seung-Il;Song, Seong-Bin
    • Journal of Digital Convergence
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    • v.13 no.10
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    • pp.99-106
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    • 2015
  • The biggest change in modern society because we will transition to a ubiquitous environment. Changes in the environment has become a crucial instrument that finally opens the era of convergence management through integrating the various fields in their own business. The desire of consumers to new innovative products appears to be a constant thing companies are constantly trying to respond to these changes, there may not be a problem for the convergence of sustainability management company in the end. In this study, based on the convergence of corporate management need to be a fusion component of corporate management to examine whether any impact on the quality of innovation. Results showed that the fusion management components that affect both internal factors and external factors, core factors quality improvement. Internal factors detailed in the convergence management leadership, risk management factors showed a positive external factors affecting appeared to affect positively the knowledge-sharing factors, infrastructure factors. Finally, core factor is technology factors, educational learning factors showed a positive impact. This results suggest that be a big impact factors of competitiveness of enterprises through convergence management in the future and will serve as the strategic basis for the convergence of future corporate management.

Impact Investment into Social Enterprises and Applicability to Korea (사회적기업의 임팩트투자와 한국 적용가능성 연구)

  • Chang, Sug-In;Jin, Jae-Keun;Choi, Ho-Gyu;Jeong, Kang-One
    • Management & Information Systems Review
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    • v.39 no.2
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    • pp.163-179
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    • 2020
  • Recently, impact investment has attracted attention all over the world. This is intended to effectively solve problems by combining private capital and various financial techniques with social and environmental needs, as it is recognized that it is difficult to solve social and environmental problems. Impact investment means a mixture of financial, social, and environmental aspects. This refers to an investment focused on such a blended value, through which it simultaneously achieves financial and social values such as return on investment. The purpose of this study is to study whether impact investment, which has become a new issue, is actually applicable in Korea. This study first considers the concept and method of impact investment, and a prior study on social enterprises and impact investment that pursue social values. In particular, after analyzing in detail the social performance-related bonds (SIB) and operational cases, we intend to explore the possible applicability of impact investment to Korea. The results and implications of this study are, first, changes in the government's attitude toward impact finance. The government should entrust innovative public works to market-proven service providers to enhance the professionalism and efficiency of public service projects. Second, the legal system must innovate. Impact investment should provide an institutional foundation to pursue social problem solving simultaneously, not maximizing financial performance. Third, when investing in public works in the private sector, impact investment must clearly demand social performance and clarify the evaluation accordingly. The project execution process should create an impact environment that is more free and active.

The Correlations among the Categorized Quality Cost Factors on SMEs (Small & Medium-sized Enterprises) (중소 제조기업의 품질비용 행태에 관한 실증 연구)

  • Lee, Sang-Choon;Koo, Il-Seob
    • Proceedings of the Safety Management and Science Conference
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    • 2011.04a
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    • pp.731-746
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    • 2011
  • The successful and sustainable growth of SMEs depends on their ability of strengthen their competitiveness in quality and cost and service more than anything else as a fundamental of operation. Among these key competitive factors of SMEs, quality is the most critical factor in manufacturing business fields. Because quality strongly influence cost and service performance on this manufacturing business field. There are many different ways to improve the quality performance but it needs proper management decision to choose the best way what can maximize outputs with minimum inputs. And it needs effective measurement methods and some indicators to analysis the quality performance properly. The quality cost is one of the simplest key indicators to measure the quality performance and the effectiveness of quality related management decisions. The major purpose of this study is to diagnose the categorized current level of actual quality cost of local SMEs to maximize their quality management effectiveness through comparing their level with others what's expressed in early studies. In this study, through survey on local SMEs, we found that their average annual quality cost ratio versus turnover - Total amount of annual quality cost divided by annual turnover - is around 3.69% excluded some SME's performances what have different quality control measures with others. And we found some results what corresponded with the early studies on the correlations between those categorized quality costs factors and some discrepancies between some of the literature model and the early case study results as follows. There were negative correlations between the Prevention costs and the External failure costs, and the Appraisal costs and the External failure costs, and there was positive correlation between the Appraisal costs and Internal failure costs same as early studies. But, we couldn't found any strong negative correlations between the Cost of control - Preventive costs & Appraisal costs - and the Cost of Failure of control - Internal & External failure costs -. It reveals not only the lack of effectiveness on their preventive or appraisal activities but also it can reveal there were so many effective ways to prevent the failure costs properly such as some innovative investment on Factory automation includes Error Proofing and more preventive actions to improve the effectiveness of the typical management methods likes CE (Concurrent Engineering), APQP (Advanced Product Quality Planning), FMEA (Failure Mode & Effect Analysis) etc.

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The Policy of Win-Win Growth between Large and Small Enterprises : A South Korean Model (한국형 동반성장 정책의 방향과 과제)

  • Lee, Jang-Woo
    • Korean small business review
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    • v.33 no.4
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    • pp.77-93
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    • 2011
  • Since 2000, the employment rate of small and medium enterprises (SMEs) has dwindled while the creation of new jobs and the emergence of healthy SMEs have been stagnant. The fundamental reason for these symptoms is that the economic structure is disadvantageous to SMEs. In particular, the greater gap between SMEs and large enterprises has resulted in polarization, and the resulting imbalance has become the largest obstacle to improving SMEs' competitiveness. For example, the total productivity has continued to drop, and the average productivity of SMEs is now merely 30% of that of large enterprises, and the average wage of SMEs' employees is only 53% of that of large enterprises. Along with polarization, rapid industrialization has also caused anti-enterprise consensus, the collapse of the middle class, hostility towards establishments, and other aftereffects. The general consensus is that unless these problems are solved, South Korea will not become an advanced country. Especially, South Korea is now facing issues that need urgent measures, such as the decline of its economic growth, the worsening distribution of profits, and the increased external volatility. Recognizing such negative trends, the MB administration proposed a win-win growth policy and recently introduced a new national value called "ecosystemic development." As the terms in such policy agenda are similar, however, the conceptual differences among such terms must first be fully understood. Therefore, in this study, the concepts of win-win growth policy and ecosystemic development, and the need for them, were surveyed, and their differences from and similarities with other policy concepts like win-win cooperation and symbiotic development were examined. Based on the results of the survey and examination, the study introduced a South Korean model of win-win growth, targeting the promotion of a sound balance between large enterprises and SMEs and an innovative ecosystem, and finally, proposing future policy tasks. Win-win growth is not an academic term but a policy term. Thus, it is less advisable to give a theoretical definition of it than to understand its concept based on its objective and method as a policy. The core of the MB administration's win-win growth policy is the creation of a partnership between key economic subjects such as large enterprises and SMEs based on each subject's differentiated capacity, and such economic subjects' joint promotion of growth opportunities. Its objective is to contribute to the establishment of an advanced capitalistic system by securing the sustainability of the South Korean economy. Such win-win growth policy includes three core concepts. The first concept, ecosystem, is that win-win growth should be understood from the viewpoint of an industrial ecosystem and should be pursued by overcoming the issues of specific enterprises. An enterprise is not an independent entity but a social entity, meaning it exists in relationship with the society (Drucker, 2011). The second concept, balance, points to the fact that an effort should be made to establish a systemic and social infrastructure for a healthy balance in the industry. The social system and infrastructure should be established in such a way as to create a balance between short- term needs and long-term sustainability, between freedom and responsibility, and between profitability and social obligations. Finally, the third concept is the behavioral change of economic entities. The win-win growth policy is not merely about simple transactional relationships or determining reasonable prices but more about the need for a behavior change on the part of economic entities, without which the objectives of the policy cannot be achieved. Various advanced countries have developed different win-win growth models based on their respective cultures and economic-development stages. Japan, whose culture is characterized by a relatively high level of group-centered trust, has developed a productivity improvement model based on such culture, whereas the U.S., which has a highly developed system of market capitalism, has developed a system that instigates or promotes market-oriented technological innovation. Unlike Japan or the U.S., Europe, a late starter, has not fully developed a trust-based culture or market capitalism and thus often uses a policy-led model based on which the government leads the improvement of productivity and promotes technological innovation. By modeling successful cases from these advanced countries, South Korea can establish its unique win-win growth system. For this, it needs to determine the method and tasks that suit its circumstances by examining the prerequisites for its success as well as the strengths and weaknesses of each advanced country. This paper proposes a South Korean model of win-win growth, whose objective is to upgrade the country's low-trust-level-based industrial structure, in which large enterprises and SMEs depend only on independent survival strategies, to a high-trust-level-based social ecosystem, in which large enterprises and SMEs develop a cooperative relationship as partners. Based on this objective, the model proposes the establishment of a sound balance of systems and infrastructure between large enterprises and SMEs, and to form a crenovative social ecosystem. The South Korean model of win-win growth consists of three axes: utilization of the South Koreans' potential, which creates community-oriented energy; fusion-style improvement of various control and self-regulated systems for establishing a high-trust-level-oriented social infrastructure; and behavioral change on the part of enterprises in terms of putting an end to their unfair business activities and promoting future-oriented cooperative relationships. This system will establish a dynamic industrial ecosystem that will generate creative energy and will thus contribute to the realization of a sustainable economy in the 21st century. The South Korean model of win-win growth should pursue community-based self-regulation, which promotes the power of efficiency and competition that is fundamentally being pursued by capitalism while at the same time seeking the value of society and community. Already existing in Korea's traditional roots, such objectives have become the bases of the Shinbaram culture, characterized by the South Koreans' spontaneity, creativity, and optimism. In the process of a community's gradual improvement of its rules and procedures, the trust among the community members increases, and the "social capital" that guarantees the successful control of shared resources can be established (Ostrom, 2010). This basic ideal can help reduce the gap between large enterprises and SMEs, alleviating the South Koreans' victim mentality in the face of competition and the open-door policy, and creating crenovative corporate competitiveness. The win-win growth policy emerged for the purpose of addressing the polarization and imbalance structure resulting from the evolution of 21st-century capitalism. It simultaneously pursues efficiency and fairness on one hand and economic and community values on the other, and aims to foster efficient interaction between the market and the government. This policy, however, is also evolving. The win-win growth policy can be considered an extension of the win-win cooperation that the past 'Participatory Government' promoted at the enterprise management level to the level of systems and culture. Also, the ecosystemic development agendum that has recently emerged is a further extension that has been presented as a national ideal of "a new development model that promotes the co-advancement of environmental conservation, growth, economic development, social integration, and national and individual development."

A Strategy Model for Strengthening Knowledge Creation Capabilities of Korean Foreign Subsidiaries (한국기업 해외자회사의 지식창출 역량 강화를 위한 전략모형)

  • Kim, Min Sook;Kang, Han Gyoun
    • International Area Studies Review
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    • v.16 no.3
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    • pp.209-237
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    • 2012
  • Multinational enterprises(MNEs) try to strengthen their global innovative capabilities by incorporating the foreign subsidiaries' knowledge bases. Foreign subsidiaries play an important role in MNEs' knowledge creation activities. This study develops a strategy model that strengthening the knowledge creation capabilities of Korean firms' foreign subsidiaries. Four strengthening strategy types are derived from three research areas related with center of excellence, subsidiary strategic roles, and knowledge creation capabilities. The strategies that strengthen knowledge creation capabilities are including organizational culture and autonomy reinforcing strategy, subsidiary's absorptive capacity reinforcing strategy, local environment management strategy, and network building strategy. Strategic fit conditions which support the success of each strategy type are also discussed.

A Study on the Improvement of National R&D Project Performance Evaluation and Budgeting System

  • Kyunghwan, Park;Hyungwook, Sim;Seokki, Cha
    • Asian Journal of Innovation and Policy
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    • v.11 no.3
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    • pp.342-362
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    • 2022
  • The national R&D project is a major strategy for the development of science and technology in the country. This is promoted for the purpose of improving the welfare of the people, such as creating jobs and fostering small and medium-sized enterprises, through the results of science and technology research conducted with support from the national budget. Therefore, analysis of the performance evaluation and budgeting system of the current national R&D project is one of the essential parts of preparing a system improvement plan. This study derived improvement plans through a comparative analysis of national R&D project performance evaluation and budget systems in Korea and leading countries such as the United States and Japan. As a result, it was confirmed that it may be difficult to derive innovative research results due to the lack of sustainability and a short period of time to require quantitative performance. To overcome these difficulties, the need for system improvement as follows was suggested. First, it is necessary to enlarge and prolong national R&D projects. Second, a plan for securing sustainability is needed in consideration of the main characteristics of each research field. Finally, it is necessary to strengthen the linkage between organizations in charge of national R&D projects. And also, there is a need for a system that can continuously identify problems and improve the system. In addition, the constitutional amendment will be necessary to separate science and technology from economic development, which states that Article 127, Paragraph 1, "Science and technology should be subordinated to economic development," which is the science and technology article of the current constitution.